How Bad Is the Current Housing Market Decline?
#spacer{clear:left}#abc #sidebar{margin-top:1.5em}if(zs>0){zSB(3,3)}else{gEI(“spacer”).style.display=’none’;gEI(“sidebar”).style.display=’none’} David McNew /Getty Images Every month seems to bring more bad news about the housing market. However, economists haven’t all agreed on how bad it is. Definitions of recession, bear market and a stock market correction are well standardized, but the same is not true for the housing market. Economists’ studies show that housing price declines of 10-15% are enough to eliminate equity and create a snowball effect that eventually creates severe pain for homeowners. (Source: International Herald Tribune, “Wh
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